In Greece, Safety4Sea reports classification society DNV’s Alternative Fuels Insights database has revealed that 2024 has seen a significant shift towards alternative-fueled vessels, with a total of 335 new orders so far, marking a 25% increase compared to the same period in 2023. According to Jason Stefanatos, Global Decarbonization Director at DNV, despite a slow […]
In Delaware, Transparency Market Research reported that the global methanol market was worth $22 billion in 2023 and is expected to reach $32.9 billion by 2034. The report noted that the market is forecast to grow at a CAGR of 3.4% during the period. “Demand for methanol is expected to increase in Asia Pacific. Automobile, […]
In Singapore, Splash 247 reports Danish towage company Svitzer placed an order with Uzmar shipyard in Turkey for the world’s first tugboat powered by a combination of a 6MWh battery and dual-fuel methanol engines. Scheduled to perform a significant portion of its duties at Sweden’s port of Gothenburg, this 34.9-meter vessel is designed to operate […]
In Canada, Methanex Corporation announced that it has entered into a definitive agreement to acquire OCI Global’s international methanol business for $2.05 billion. The transaction includes OCI’s interest in two world-scale methanol facilities in Beaumont, Texas, one of which also produces ammonia. The transaction also includes a low-carbon methanol production and marketing business and a […]
In Canada, Methanex announced the acquisition of OCI Global’s international methanol assets for $2.05 billion. The deal includes two large methanol facilities in Beaumont, Texas, with a combined annual production capacity of 1.76 million tonnes of methanol. One plant also produces 340,000 tonnes of ammonia per year, marking Methanex’s entry into ammonia production. The acquisition […]
In The Netherlands, Offshore Energy reported that Swedish hydrogen fuel cell provider PowerCell has obtained approval in principle (AiP) from classification society DNV for a new methanol-to-power solution that combines a methanol reformer with a fuel cell system. The report stated that the new solution has a fully integrated methanol reformer from RIX Industries combined […]
In Nigeria, Nairametrics reports the China Road and Bridge Corporation signed a $3.3 billion agreement with Nigeria’s Brass Fertilizer and Petrochemical Company Ltd. for the development of the Brass Industrial Park and Methanol Complex in Bayelsa State, Nigeria. This significant partnership, signed during the Forum on China-Africa Cooperation in China, is aimed at bolstering Nigeria’s […]
In the UK, researchers at the University of Liverpool have achieved a significant milestone in the conversion of carbon dioxide (CO2) into valuable fuels and chemicals, marking an important step towards a sustainable net-zero economy. In a paper published in the journal Chem, the team reports a pioneering plasma-catalytic process for the hydrogenation of CO2 […]
In California, Daily Breeze reports The Port of Los Angeles was set to celebrate the Alette Maersk, a groundbreaking methanol-powered cargo ship, with public tours on Wednesday. However, the event was abruptly canceled due to planned protests linked to Maersk’s alleged involvement in the Israel-Hamas conflict —a charge the company has not confirmed. Just a […]
In Switzerland, Proman announced over the past 12 months, it has delivered 12,500 metric tons of methanol fuel to vessels in Trinidad, solidifying the Port of Point Lisas as a burgeoning hub for methanol refueling in the Caribbean. With methanol produced at Proman’s local facilities, earlier this month Proman refueled the Stena Prosperous and in […]
